Shopping Strip

DaVita Commercial Center

10651 Lomond Dr, Manassas, VA 20109

Listing Price: $6,152,467

Cap Rate
6.00%
Gross SF
20,378
Rentable SF
20,378
Price/Gross SF
$301.92
Lot Size
2.00 acres
Year Built
2001

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale The DaVita Commercial Center, a 20,378 square foot commercial asset located in the dense, high traffic Manassas suburb in Northern Virginia. This low management asset provides its investor diversity of income streams from three recession resilient uses. The attractive rent brick building was constructed in 2001 and is in a highly desirable location which makes it ideal for numerous user types. The property is positioned in a growing area of Prince William County which will help keep these spaces leased and rents growing for decades to come. DaVita has anchored the asset since 2004 and provides investors with a stable draw and strong, attractive corporate credit. DaVita is a publicly traded company with a corporate credit rating of Ba2 by Moody’s. The lease is corporately guaranteed. DaVita Dialysis is headquartered in Denver and provides kidney dialysis treatment to patients around the world. The company employs more than 60,000 people at 2,750 locations throughout the U.S. 2019 revenues exceeded $11 billion. It is the 188th largest company in the Fortune 500. Berkshire Hathaway is a major shareholder at 23%. The Matthew’s Center has also been at this location for over 17 years having singed their lease in 2003. Matthew’s Center serves the development needs of families for a wide regional area. Services provided included occupational therapy, speech therapy, applied behavior analysis and education. The Center has multiple revenue streams from families, insurance providers as well as government agencies and is highly recession resilient. Matthew’s Center was founded in 2000 by Mark and Laurie Heilman. It is a 501(c)(3) non-profit organization and is run by a staff of 11 and a Board of Governors. It is licensed by the Virginia Departments of Education and Social Services. The River Christian Center is the newest tenant, in occupancy since 2016. They just extended their lease to 2021. Their rent is currently $13.91 per square foot which is below market and provides investors substantial upside in the purchase.

Investment Highlights

  • DAVITA ANCHORED ASSET WITH LIMITED MANAGEMENT REQUIRED
  • DAVITA AND MATTHEW'S CENTER HAVE OCCUPIED THE BUILDING FOR OVER 16 YEARS
  • GROWING MANASSAS MARKET IN NORTHERN VIRGINIA.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    Senior Associate

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Shopping Strip

DaVita Commercial Center

Listing Price: $6,152,467

Cap Rate
6.00%
Gross SF
20,378
Rentable SF
20,378
Price/Gross SF
$301.92
Lot Size
2.00 acres
Year Built
2001

Investment Highlights

  • DAVITA ANCHORED ASSET WITH LIMITED MANAGEMENT REQUIRED
  • DAVITA AND MATTHEW'S CENTER HAVE OCCUPIED THE BUILDING FOR OVER 16 YEARS
  • GROWING MANASSAS MARKET IN NORTHERN VIRGINIA.

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale The DaVita Commercial Center, a 20,378 square foot commercial asset located in the dense, high traffic Manassas suburb in Northern Virginia. This low management asset provides its investor diversity of income streams from three recession resilient uses. The attractive rent brick building was constructed in 2001 and is in a highly desirable location which makes it ideal for numerous user types. The property is positioned in a growing area of Prince William County which will help keep these spaces leased and rents growing for decades to come. DaVita has anchored the asset since 2004 and provides investors with a stable draw and strong, attractive corporate credit. DaVita is a publicly traded company with a corporate credit rating of Ba2 by Moody’s. The lease is corporately guaranteed. DaVita Dialysis is headquartered in Denver and provides kidney dialysis treatment to patients around the world. The company employs more than 60,000 people at 2,750 locations throughout the U.S. 2019 revenues exceeded $11 billion. It is the 188th largest company in the Fortune 500. Berkshire Hathaway is a major shareholder at 23%. The Matthew’s Center has also been at this location for over 17 years having singed their lease in 2003. Matthew’s Center serves the development needs of families for a wide regional area. Services provided included occupational therapy, speech therapy, applied behavior analysis and education. The Center has multiple revenue streams from families, insurance providers as well as government agencies and is highly recession resilient. Matthew’s Center was founded in 2000 by Mark and Laurie Heilman. It is a 501(c)(3) non-profit organization and is run by a staff of 11 and a Board of Governors. It is licensed by the Virginia Departments of Education and Social Services. The River Christian Center is the newest tenant, in occupancy since 2016. They just extended their lease to 2021. Their rent is currently $13.91 per square foot which is below market and provides investors substantial upside in the purchase.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    Senior Associate

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

MM Texture Background
MM Textured Background Lower